BMW to Partner Daimler on Self-Driving Tech
Major German carmakers BMW and Daimler have agreed to team up to develop autonomous driving technology, as revealed by a press release published on Daimler's official website July 4.
According to Daimler, the initial focus of the partnership will be on driver assistance technologies, automated parking and autobahn driving compliant with the Society of Automotive Engineers Level 4 standard.
The two companies aim to make their partnership long-term, with the initial goal of jointly developing lower-level automation allowing safe self-driving on autobahns. This will potentially be followed by the development of higher-level autonomous tech suitable for urban areas.
BMW and Daimler have also revealed that they are open to potential partnerships on self-driving tech with other carmakers.
The two companies stocks did not react significantly to the news. As of press time, BMW shares are trading at 67.05 euro, down by 0.089% on the day. Daimler is at 49.12 euro, up by 0.17%.
Other recent developments in the autonomous driving technology sector include the acquisition of the Drive.ai startup by Apple on June 25, and Alphabet's self-driving tech company Waymo receiving a greenlight from California to pick up users of the ride-hailing service Lyft.
FURTER READING: Yam plunges following bug discovery